Wall Street brokerages expect The Charles Schwab Co. (NYSE:SCHW) to post $4.13 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for The Charles Schwab's earnings. The highest sales estimate is $4.21 billion and the lowest is $4.06 billion. The Charles Schwab posted sales of $2.61 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 58.2%. The firm is expected to report its next earnings results on Thursday, January 21st.
On average, analysts expect that The Charles Schwab will report full year sales of $11.32 billion for the current financial year, with estimates ranging from $10.03 billion to $11.72 billion. For the next financial year, analysts anticipate that the business will post sales of $14.74 billion, with estimates ranging from $10.27 billion to $16.28 billion. Zacks Investment Research's sales averages are an average based on a survey of research analysts that that provide coverage for The Charles Schwab.
The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.43 billion. The Charles Schwab had a net margin of 29.80% and a return on equity of 14.02%. The firm's revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS.
SCHW has been the subject of a number of research analyst reports. Smith Barney Citigroup raised shares of The Charles Schwab from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $54.00 in a research note on Tuesday, November 17th. Bank of America raised shares of The Charles Schwab from a "neutral" rating to a "buy" rating and upped their target price for the stock from $52.00 to $68.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of The Charles Schwab from a "hold" rating to a "buy" rating and upped their target price for the stock from $43.00 to $53.00 in a research note on Wednesday, November 11th. Wells Fargo & Company upgraded shares of The Charles Schwab from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $44.00 to $58.00 in a research note on Tuesday, December 1st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of The Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $44.00 to $54.00 in a research note on Tuesday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. The Charles Schwab has a consensus rating of "Buy" and an average target price of $50.54.
In other The Charles Schwab news, EVP Jonathan M. Craig sold 6,326 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $40.00, for a total value of $253,040.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger O. Walther sold 20,000 shares of the stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $46.11, for a total transaction of $922,200.00. Following the completion of the transaction, the director now directly owns 15,453 shares in the company, valued at $712,537.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,348,287 shares of company stock worth $64,923,383. 10.80% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. raised its holdings in The Charles Schwab by 6.3% in the 4th quarter. Raymond James Trust N.A. now owns 20,864 shares of the financial services provider's stock valued at $1,107,000 after acquiring an additional 1,235 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of The Charles Schwab by 53.8% during the fourth quarter. IFM Investors Pty Ltd now owns 146,570 shares of the financial services provider's stock worth $7,774,000 after purchasing an additional 51,297 shares during the period. Investment House LLC bought a new position in shares of The Charles Schwab during the fourth quarter worth approximately $242,000. Pinnacle Bank increased its holdings in shares of The Charles Schwab by 7.9% during the fourth quarter. Pinnacle Bank now owns 2,614 shares of the financial services provider's stock worth $139,000 after purchasing an additional 192 shares during the period. Finally, Fruth Investment Management bought a new position in shares of The Charles Schwab during the fourth quarter worth approximately $815,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SCHW opened at $59.51 on Thursday. The firm has a market cap of $111.67 billion, a PE ratio of 27.55 and a beta of 1.13. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.33. The Charles Schwab has a 1-year low of $28.00 and a 1-year high of $62.04. The company has a fifty day moving average price of $52.55 and a 200 day moving average price of $41.03.
About The Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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7 Stocks to Sell Before the New Year
We’re officially in the holiday season, which means it’s time to get our portfolios set for the new year. And for many investors, 2021 can’t get here fast enough. Don’t get me wrong. Overall, being invested in stocks has been a wise move. But it hasn’t been without its ups and downs. For investors to profit in this market, they have had to have conviction.
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View the "7 Stocks to Sell Before the New Year".